STOCK WARRANTS AND OPTIONS

3 Months Ended

Mar. 31, 2023

NOTE 5 – STOCK WARRANTS AND OPTIONS

Stock Warrants

No warrants were issued or exercised, nor were there any warrants that expired, during the three months ended March 31, 2023 and 2022.

An unaudited summary of warrants outstanding and exercisable as of March 31, 2023 were:

				Weighted
				Average		Exercisable
Exercise		Number of		Remaining		Number of
Price		Warrants		Life in Years		Warrants

$	0.60		3,340,000		3.8		3,340,000
$	0.75		100,000		3.8		100,000
$	0.30		1,500,000		3.8		1,500,000

			4,940,000				4,940,000

Stock Options

In September 2003, shareholders of the Company approved an employee stock option plan (the “2003 Option Plan”) authorizing the issuance of options to purchase up to 1,000,000 shares of common stock. The 2003 Option Plan is intended to give the Company greater ability to attract, retain, and motivate officers, key employees, directors and consultants; and is intended to provide the Company with the ability to provide incentives more directly linked to the success of the Company’s business and increases in shareholder value. During the third quarter of 2013, the board of directors increased the number of shares reserved for issuance under the 2003 Option Plan from 1,000,000 to 1,250,000 which was increased by the board to 1,750,000 during the third quarter of 2018.

An unaudited summary of the activity of the Company’s stock options for the three months ended March 31, 2023 is presented below:

					Weighted		Weighted
	Weighted				Average		Average
	Average		Number of		Remaining		Optioned		Aggregate
	Exercise		Optioned		Contractual		Grant Date		Intrinsic
	Price		Shares		Term in Years		Fair Value		Value

Balance as of December 31, 2022	$	0.32		1,235,070			$	-	$	-
Expired		-		-				-
Granted		-		-				-
Exercised		-		-				-
Forfeited		-		-				-

Balance as of March 31, 2023	$	0.32		1,235,070		2.06	$	0.09	$	-

Vested and exercisable as of March 31, 2023	$	0.32		1,235,070		2.06	$	0.09	$	-

ENERTECK CORP 10-Q